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Stock-Based Compensation (Tables)

6 Months Ended

Jan. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of stock-based awards outstanding by award type

As of January 31, 2024, the following stock-based awards, by award type, were outstanding:

			January 31, 2024
Stock options			224,580
Performance shares			827,802
RSUs, restricted stock, share units and other stock-based awards			1,198,832
Total			2,251,214

Stock-based compensation for awards detailing where recorded in Consolidated Statement of Operations

Stock-based compensation for awards issued is reflected in the following line items in our Condensed Consolidated Statements of Operations:

						Three months ended January 31,												Six months ended January 31,
						2024						2023						2024						2023
Cost of sales						$	131,000					153,000						$	413,000					311,000
Selling, general and administrative expenses						1,991,000						1,015,000						4,167,000						1,663,000
Research and development expenses						67,000						100,000						254,000						198,000
Stock-based compensation expense before CEO transition costs						2,189,000						1,268,000						4,834,000						2,172,000
CEO transition costs related to equity-classified stock-based awards						—						—						—						3,764,000
Total stock-based compensation expense before income tax benefit						2,189,000						1,268,000						4,834,000						5,936,000
Estimated income tax benefit						(484,000)						(293,000)						(1,068,000)						(786,000)
Net stock-based compensation expense						$	1,705,000					975,000						$	3,766,000					5,150,000

Summary of stock-based compensation expense by award type

Stock-based compensation expense, by award type, is summarized as follows:

						Three months ended January 31,												Six months ended January 31,
						2024						2023						2024						2023
Stock options						$	12,000					19,000						$	31,000					44,000
Performance shares						585,000						281,000						942,000						355,000
RSUs, restricted stock and share units						1,566,000						937,000						3,810,000						1,711,000
ESPP						26,000						31,000						51,000						62,000
Stock-based compensation expense before CEO transition costs						2,189,000						1,268,000						4,834,000						2,172,000
CEO transition costs related to equity-classified stock-based awards						—						—						—						3,764,000
Total stock-based compensation expense before income tax benefit						2,189,000						1,268,000						4,834,000						5,936,000
Estimated income tax benefit						(484,000)						(293,000)						(1,068,000)						(786,000)
Net stock-based compensation expense						$	1,705,000					975,000						$	3,766,000					5,150,000

Summary of the Plan's activity relating to stock options

The following table summarizes the Plan's activity:

						Awards (in Shares)						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding at July 31, 2023						240,510						23.96
Expired/canceled						(6,250)						24.31
Outstanding at October 31, 2023						234,260						$	23.95
Expired/canceled						(9,680)						24.25
Outstanding at January 31, 2024						224,580						$	23.93					3.58						$	—
Exercisable at January 31, 2024						201,880						$	24.61					3.27						$	—
Vested and expected to vest at January 31, 2024						223,916						$	23.95					3.57						$	—

Summary of the Plan's activity relating to performance shares, RSUs, restricted stock and share units

The following table summarizes the Plan's activity relating to performance shares, RSUs, restricted stock, share units and other stock-based awards:

						Awards (in Shares)						Weighted Average Grant Date Fair Value						Aggregate Intrinsic Value
Outstanding at July 31, 2023						1,876,230						$	13.21
Granted						913,908						9.93
Settled						(296,198)						16.03
Canceled/Forfeited						(41,814)						15.80
Outstanding at October 31, 2023						2,452,126						11.60
Settled						(383,565)						10.64
Canceled/Forfeited						(41,927)						12.78
Outstanding at January 31, 2024						2,026,634						$	11.76					$	12,828,592
Vested at January 31, 2024						452,444						$	14.98					$	2,863,969
Vested and expected to vest at January 31, 2024						1,960,958						$	11.79					$	12,412,866

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